Sula Vineyards Reports Record Q1FY25 Revenue and Expands Operations

On July 10, 2024, Sula Vineyards Ltd (NSE: SULA), India’s largest wine producer, announced its highest-ever Q1 Net Revenue, both overall and for its priority Own Brands.

The provisional and unaudited figures are as follows:

In the first quarter of financial year 2025 (Q1FY25), revenue from own brands increased by 2.7% year-on-year to ₹104.4 crore, up from ₹101.6 crore in the same quarter the previous year. Conversely, revenue from wine tourism declined by 2.5% year-on-year, dropping to ₹11.3 crore in Q1FY25 from ₹11.5 crore in Q1FY24. Total revenue rose by 9.7% to ₹129.6 crore in Q1FY25, compared to ₹118.2 crore in Q1FY24.

The CEO of Sula Rajeev Samant said, “We are pleased to announce our highest-ever Q1 Net Revenue, although wine consumption and tourism during the quarter were impacted by several dry days nationwide and locally during the Lok Sabha elections and the scorching heatwave conditions.”

Operational Expansion and Sales Strategy

Sula Vineyards will start bottling at another facility in Maharashtra, the recently acquired N D Wines unit, this month.

Sula, with a portfolio of over 50 labels across more than 10 brands, has decided, after thorough analysis, to transition its Economy and Popular brands to a third-party sales force model in Maharashtra, beginning with Mumbai and Pune. This strategy, which has proven successful in Karnataka and Telangana, will enable Sula’s sales team to concentrate solely on the priority Elite and Premium brands.

About Sula Vineyards Ltd

Over the last 20 years, Sula Vineyards has been a key player in developing the Indian wine industry. As a true trailblazer, Sula established Nashik as a premium wine region and placed India on the global wine map. Sula’s wines have won many awards in top international competitions like the Decanter World Wine Awards and the International Wine Challenge.

On July 11, 2024, Sula Vineyards Ltd’s share price opened at ₹510.00, touching the day’s low at ₹498.85 as of 02:12 PM on the NSE.

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